Murray Goulburn posts $17.6m HY loss

Murray Goulburn has posted a $17.6 million first-half loss and delayed a move to delist from the ASX while it firms up the potential cost savings.

The fallen dairy co-operative, whose remaining assets were bought by Canadian giant Saputo last year, says it has delayed a vote on the proposal from February or March while it clarifies the impact on operating costs that include future insurance premiums.

Murray Goulburn, which expects combined shareholder class actions over alleged breaches of continuous disclosure obligations to go to trial in February 2020, says it will likely give more details about the proposed delisting of its unit trust in April.